Global Tire Monitoring System Market – Introduction
- Tire monitoring systems, such as tire pressure monitoring system (TPMS) and Anti-Lock Brake System (ABS), are designed to warn a vehicle owner/driver if the pressure in the tire falls below a certain pre-defined value and help maintain stability of the vehicle under various driving situations.
- Stringent vehicle norms enacted by organizations, such as U.S. department of Transportation and National Highway Traffic Safety Administration (NHTSA), have compelled automakers to adopt various safety systems in their vehicles in order to curb road accident fatalities. This, in turn, is fueling research and development in vehicle safety systems such as TPMS and ABS.
Key drivers of global tire monitoring system market
- A TPMS sensor mounted on the outer line of a tire monitors tire pressure. This sensor sends signals to the vehicle’s control box and warns the driver when the air pressure in any single tire or multiple tires reaches below a standard value of 25%, which is defined either as per manufacturers’ guidelines or as per predefined standard value. For instance, Goodyear and Continental AG have launched Goodyear Proactive Solutions TPMS (Tire Pressure Monitoring System) Heavy Duty and ContiConnect: Fleet solution, respectively, to monitor tire pressure effectively.
- Often, low tire pressure is responsible for loss of vehicle control, which lead to skidding, tripping or rollover of a vehicle
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
- An ABS system works in conjunction with speed sensors, pressure release valves, a control unit, and hydraulic actuator. After applying the brake to slow or stop vehicle, brake pads start pressing against the rotors. In case the sensor feeds information that one wheel in slowing down at a faster pace than the other, the control unit directs the ABS module to activate the pressure release valve through the hydraulic system. The pressure release valve releases pressure partially, which prevents locking of tires or skidding and later enables further pressure to be applied on the brake pedal.
- Preference for advanced safety features in vehicles and luxury vehicles among consumers globally is rising due to rise in disposable income owing to economic growth. Government and regulatory authorities are enacting stringent rules and regulations to ensure safety of vehicle passengers and drivers. For instance, Transportation Recall Enhancement, Accountability, and Documentation (TREAD) Act of 2000, NHTSA, U.S. Department of Transport mandates installation of tire pressure monitoring systems in passenger vehicles and commercial vehicles under Federal Motor Vehicle Safety Standard.
- These factors are fueling the demand for tire monitoring system and consequently, boosting the market
Passenger vehicle segment to expand significantly
- The tire monitoring system in passenger vehicles is necessary, as maintaining optimum tire pressure is essential for safe driving. Passenger vehicles carry commuters irrespective of driving situations, which includes rain, snow, or icefall.
- Vehicle safety, fuel-efficiency, and carbon emissions are major concerns that are addressed by various rules and regulations enacted by governments across the globe, which in turn drive the demand for effective tire monitoring systems
- The factors mentioned above, fuel the high rate of adoption of tire monitoring systems in passenger vehicle segment, thereby driving the market for tire monitoring systems.